cambodian-association-of-finance-and-technology-(caft)-partners-with-the-ministry-of-post-and-telecommunications-during-caft-2nd-annual-general-meeting

Cambodian Association of Finance and Technology (CAFT) Partners with the Ministry of Post and Telecommunications during CAFT 2nd Annual General Meeting

 

The Cambodian Association and Finance and Technology (CAFT) held its 2nd Annual General Meeting and MoU Signing with the Ministry of Post and Telecommunications (MPTC) last Friday, March 4, 2022 at the SOSORO – Preah Srey ICANAVRMAN Museum.

The MoU was signed by H.E. So Visothy, Secretary of State of MPTC and Mr. Remi Pell, CAFT Board Chairman and witnessed by by H.E. Dr. Chea Vandeth , Minister of Post and Telecommunications, H.E. SOK Puthyvuth, Secretary of State of MPTC, H.E. Dr. Chea Serey and CAFT Board Director Secretary General Mr. Tomas Pokorny, CAFT Board Treasurer Frandara Khuon and CAFT Board Member Sanjay Chakrabarty.

The MoU aims to strengthen CAFTs vision of collaboration by gathering and bringing together the diverse parts of the Cambodian finance and tech public and private community, advocating for a unified voice of the Cambodian finance and tech ecosystem, facilitating a great network where people in the Cambodian finance and tech industry connects, and to teach by learning from existing and past leaders to nurture the next generation of talent.

In his welcome speech Mr. Remi Pell Chairman of CAFT mentioned that the association’s readiness in addressing the Cambodian industry’s challenges. “CAFT has conceived strategic objectives to give us guidance on how we address the challenges that we face as an industry – 1) the need the expand the tech talent pool and create opportunities for upskilling, 2) creating education of developing innovation skills for implementation and utilization, 3) increase the SME digitalization and adoption, 4) financial literacy and financial inclusion. These are the challenges that make up who we are an association and it’s our mission to address them and make progress, which at times seems incremental, but holistically its steadily forward,” he said.

H.E. Dr. Chea Serey, Assistant Governor and Director General of the National Bank of Cambodia on her collaborative remark, stated: “Fintech is believed to provide convenient and affordable access to finance that could improve financial inclusion and provide social-economic benefits to SMEs and people who have no access to financial services. The MoU between CAFT and the MPTC was an important step in building synergy between the private and public sectors to promote a diverse digital economy in Cambodia.

Meanwhile, H.E. Dr. Chea Vandeth, Minister of Post and Telecommunications, highlighted the importance of the Memorandum of Understanding during his collaborative remark. He said, “The collaboration between MPTC and CAFT is a good example of the private and government sector coming together towards one goal in improving finance, technology, startups, entrepreneurship, commerce, marketing, networks, skill capacity building, and knowledge which would enable financial inclusion, digitalizing and digitizing technological and finance startups, transforming the current digital ecosystem, and promoting the development of infrastructure for Cambodia’s economy to be aligned with and fully benefit from Industry 4.0.”

During the AGM CAFT Board Director – Secretary General Mr. Tomas Pokorny presented the milestones of CAFT for 2021. Albeit a challenging year, CAFT was able to persevere and highlighted the success of CamTech Summit powered by Prudential with hope that it has put Cambodia on the map as a Fintech powerhouse and that this year CamTech Summit Powered by Prudential will be held in person.

As part of CAFT’s continued advocacy, Tomas Pokorny on his presentation announced the Strategic Partnership with Prudential (Cambodia) Life Assurance. The partnership will highlight Prudential’s unending and continued support of CAFT initiatives and their contribution as CamTech Summit’s Title Sponsor.

Sanjay ChakrabartyPrudential CEO and CAFT Board Member, said, “We are pioneering digital health and insurance in Cambodia. Our efforts are aided by a thriving Fintech sector. CAFT has been doing an incredible job developing the Fintech sector in Cambodia. We’re now in our 3rd year of this strategic partnership and we’re looking forward to furthering capacity building and knowledge sharing in Cambodia through CamTech and other planned events.”

Other partnerships were also announced with Cambodia Internet Startup Association which is led by Mr. Jack Lee, International Business Chamber chaired by Mr. Paul Clements and Ecosystem Partner – 500 Global with Carrie Liauw, Regional Director, Programs, APAC. These partnerships are vital for CAFT’s future and its commitment to their members and public.

To recap his presentation Pokorny highlighted the creation of the FINTECH ASEAN roundtable which would bring together ASEAN states for collaborative meetings to examine key issues and challenges affecting the region and to determine how to further push the sector forward.

“We’re finally starting to show, through our efforts and efforts of many others, that Cambodia is ready to communicate with the rest of the world when it comes to technology, and when it comes to financing,” Pokorny said.

Also present during the event were Madam Ambassador Tina Redshaw British Ambassador to Cambodia; H.E. TOUCH Yarandy, Under Secretary of State of MPTC; H.E. CHEA Sereyvath, Advisor to MPTC; H.E. NEANG Mao, Director General of General Department of Information Communication Technology; H.E. MOK Rady, Director General of General Department of Administration; H.E. SAM Sethserey, President of Institute of Digital Research & Innovation of Cambodia Academy of Digital Technology (CADT) and Mr. Ouk Sarat, Director of Payment System Department, National Bank of Cambodia.

Lastly, the event could not have been possible without CAFT’s board‘s, executive committee‘s, members’, and partners’ continued support as well as the AGM sponsors iCare Benefits Group, Sathapana Bank, Tilleke & Gibbins and TrueMoney Cambodia.

SOURCE Cambodian Association of Finance and Technology

cambodian-association-of-finance-and-technology:-successful-conclusion-of-camtech-summit-powered-by-prudential

Cambodian Association of Finance and Technology: Successful Conclusion of CamTech Summit Powered by Prudential

 

CamTech Summit Powered by Prudential was a five-day hybrid Fintech and Tech event in Cambodia held between November 8-12, 2021 to inclusively showcase Cambodia’s emerging and accelerating Fintech and Tech sectors.

During the opening ceremony H.E. Dr. Chea Vandeth Minister, Ministry of Post and Telecommunications in his welcome remarks stated the fact that “The pandemic has disrupted the way we live, do business and interact with one another. In a way, however, this disruption has emphasized the importance of digital technology in minimizing the impact of the pandemic and allowed us to accelerate digital transformation and adapt ourselves to the digital economy as the new economic growth model.

This was reiterated by NBC Deputy Governor Neav Chanthana on her opening address “As we are already aware that technology has been advancing rapidly especially in financial technology (Fintech) as a result of Industrial Revolution (IR) 4.0 and it is becoming the main driving force to support the economic development as in many countries in the world are currently leveraging this technology to digitize their economy. This is due to the strong belief that technology could promote efficiency of economic activity such as the production and delivery of goods and services both in public and private sectors and as a result, it spurs inclusive and sustainable economic growth especially during the pandemic of COVID-19 as it enables to digitize all economic transactions when the lockdown and social distancing are implemented.”

Wilf Blackburn, Regional CEO, Insurance Growth Markets, Prudential Corporation Asia added “Technology has certainly played a significant role in how we engage and support our customers and consultants during this pandemic, where face-to-face interactions have been severely curtailed. We have also been investing significantly in enhancing our digital capabilities, recognizing that technology will help us bridge the widening protection and health gaps in our markets.”

The 5-day Summit with Prudential (Cambodia) Life Assurance PLC as its title sponsor featured more than 75 local and international speakers who shared their expertise on health tech, insurtech, blockchain, tourism tech, real estate tech, and agriculture tech, and digitalization.

Several key award-winning startups were also featured at the Summit to showcase how far Cambodia’s vast startup ecosystem has come a long way on its competitiveness towards global standards.

“To achieve full financial inclusion, all Cambodians will need access to bank accounts, loans, savings, investments and insurance. Technology is making it possible for all those services to be available to customers via their phones and at a very low cost,” said Mr. Sanjay Chakrabarty CEO of Prudential Cambodia and Board Member of CAFT in his closing keynote as he talked about the relevance of fostering collaboration across stakeholders and developing capacity in the digital sector to propel Cambodia in the future and achieve economic success.

Tomas Pokorny, CAFT Board Secretary General and Weena Llona CAFT Executive Director as the main organizers of the Summit closed the event highlighting that this is just the beginning for CAFT and Cambodia in its step towards financial inclusion and digitalization. “Cambodia is ever evolving in its digitalization – the government is hard at work with digital frameworks; industry leaders and change makers are gearing up and sharing their expertise and we have a young pool of talent that is up for the challenge – we are quite certain that Cambodia has a bright future ahead,” said Tomas. “The 5-day summit was not enough to showcase all of Cambodia’s vast fintech and tech landscape, but we hope that the audience both local and abroad were able to get a glimpse of what Cambodia has to offer,” added by Weena.

This Summit was mainly organized by the Cambodian Association of Finance and Technology (CAFT) in cooperation with National Bank of Cambodia (NBC), Association of Banks in Cambodia (ABC) and Cambodia Microfinance Association (CMA) and is one of the 11 partners for the World Fintech Festival by the Singapore Fintech Festival which takes place on November 11-12, 2021. You can still watch the event on demand at https://camtechsummit.com/.

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